CP reports more shipper support for merger with KCS

Canadian Pacific today announced that another 131 stakeholders filed statements with the Surface Transportation Board (STB) on May 8 in support of its proposed merger with Kansas City Southern, bringing the total to close to 550 supporters across the transportation supply chain in North America, CP officials said in a press release.

The statements follow previous filings with the STB in support of the CP-KCS transaction and those opposing CN’s counterbid for KCS.

Customers and other supporters stated they expect the combination of CP and KCS, among other benefits, would invigorate transportation competition, expand access to existing and growing markets, and provide new service offerings that would improve transit times and reliability along the Canada-U.S.-Mexico corridor, CP officials said.

Last week, the STB approved CP's use of a voting trust for its proposed combination with KCS. CP is seeking approval from the STB for the combination, which also remains subject to the approvals of CP and KCS shareholders, and other customary closing conditions.

The STB review is expected to be completed by the middle of 2022.